The Baltic Trade’s dry bulk sea freight index slipped for a thirteenth straight session on Monday, as capesize charges hit their lowest stage in additional than two-months.
The general index, which elements in charges for capesize, panamax and supramax delivery vessels, fell 24 factors, or about 1.2%, to 2,031 factors, its lowest since Feb. 18.
The capesize index slipped 49 factors, or 3.4%, to 1,395 factors, its lowest stage since early February.
Common every day earnings for capesizes, which usually transport 150,000 tonne cargoes similar to iron ore and coal, decreased by $413 to $11,566.
Chinese language metal futures costs fell monitoring decrease uncooked materials costs as nonetheless stringent COVID-19 associated measures dented market sentiment and fuelled worries that the restoration on this planet’s second-largest economic system would possibly lose steam.
The panamax index added 8 factors to 2,785 factors.
Common every day earnings for panamaxes, which normally carry coal or grain cargoes of about 60,000 to 70,000 tonnes, elevated $66 to $25,063.
The supramax index dropped 29 factors to 2,473 factors.
Supply: Reuters (Reporting by Rahul Paswan in Bengaluru; Modifying by Amy Caren Daniel)